Alongside the rapid pace of Securities and Exchange Commission (SEC) rulemaking, the SEC and its Staff continue to shape regulatory obligations for investment advisers in 2024 through guidance, alerts, enforcement actions,...more
8/22/2024
/ Administrative Procedure Act ,
Artificial Intelligence ,
Broker-Dealer ,
CFTC ,
Corner Post Inc v Board of Governors of the Federal Reserve System ,
Electronic Communications ,
Enforcement ,
False Statements ,
Hedge Funds ,
Investment Adviser ,
Loper Bright Enterprises v Raimondo ,
Marketing ,
Performance Standards ,
Private Funds ,
Recordkeeping Requirements ,
SEC Examination Priorities ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC)
The Investment Advisers Act of 1940 (the “Advisers Act”) is a relatively compact statute, and for many years the Securities and Exchange Commission (SEC) adopted relatively few regulations specifically targeting Advisers Act...more
3/19/2024
/ Anti-Money Laundering ,
Asset Management ,
Compliance ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
Pay-To-Play ,
Proxy Voting ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
In November of 2023, FINRA made an initial rule filing with the Securities and Exchange Commission (SEC) pursuant to Exchange Act Rule 19b-4, seeking to amend FINRA Rule 2210 – Communications with the Public (the...more
In July 2020, a sensitive Federal Bureau of Investigation (FBI) document was leaked to the public. The document outlined the FBI’s suspicions that the private investment funds industry was providing choice money laundering...more
Private fund advisers that are registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940 (the “Advisers Act”) are subject to certain rules governing their use of investment track...more
11/1/2023
/ Advertising ,
Exempt Reporting Advisers (ERAs) ,
Fund Managers ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Marketing ,
Performance Standards ,
Private Funds ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC)
Investment advisers that are registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940 (the “Advisers Act”) are subject to certain substantive requirements, including Rule 206(4)-1...more
Regulators across the globe continue to focus on disclosures and marketing relating to environmental, social, and governance (ESG) issues. Consistent with this trend, on September 20, 2023, the U.S. Securities and Exchange...more
10/11/2023
/ Best Practices ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Federal Register ,
Federal Trade Commission (FTC) ,
Green Guides ,
IFRS ,
Investment Adviser ,
Investment Company Act of 1940 ,
New Amendments ,
Recordkeeping Requirements ,
Reporting Requirements ,
SASB ,
Securities and Exchange Commission (SEC) ,
Transparency
A series of recent actions by the Securities and Exchange Commission (SEC) and its staff should prompt registered investment advisers (RIAs) to reassess their risk tolerance for some relatively common RIA marketing, custody,...more
On August 23, 2023, the SEC adopted new rules and amendments to existing rules (collectively, the “New Rules”) under the Investment Advisers Act of 1940 (the “Advisers Act”). The New Rules are designed to increase...more
9/5/2023
/ Conflicts of Interest ,
D&O Insurance ,
Disclosure Requirements ,
Errors and Omissions Policy ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
PCAOB ,
Private Funds ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
On May 3, 2023, the U.S. Securities and Exchange Commission (SEC) adopted, by a vote of 3-2, amendments to Form PF (the “Amended Form”), the confidential reporting form for certain SEC-registered investment advisers to...more
On February 7, 2023, the Securities and Exchange Commission’s (SEC) Division of Examinations (EXAMs) announced its 2023 Examination Priorities (the “Priorities”), which highlight areas it expects to target in 2023...more
2/22/2023
/ Broker-Dealer ,
Compliance ,
Cryptocurrency ,
Cybersecurity ,
Environmental Social & Governance (ESG) ,
Fair Valuation ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Libor ,
Mutual Funds ,
Private Funds ,
Registered Investment Advisors ,
Regulation Best Interest ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
On February 2, 2023, the Division of Investment Management Staff (the “Staff”) of the Securities and Exchange Commission (SEC) published a Staff Bulletin regarding fee waiver and expense reimbursement practices for investment...more
Sponsors and managers of private funds must attend to various routine regulatory and compliance tasks, which can include ongoing reporting obligations under the Investment Advisers Act of 1940 (the “Advisers Act”), updating...more
1/16/2023
/ CFTC ,
Cybersecurity ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Proposed Rules ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Vendors
Recent reports indicate that the Securities and Exchange Commission (SEC) is increasing its attention on registered investment advisers (RIAs) and their oversight and recordkeeping responsibilities related to employees’ use...more
The compliance date for the SEC’s new investment adviser Marketing Rule is November 4, 2022, allowing just over a month for an investment adviser to finalize its implementation process to comply with the Rule, which applies...more